The share prices of European renewables companies surged after German Chancellor Angela Merkel announced the country will double its 2020 renewables target and close its 17 nuclear power plants by 2022.
Cyprus could become a key geo-political and geo-strategic player in the Mediterranean region, offering new oil and gas supply routes to Europe, according to Antonis Pascalides, Cyprus Commerce Minister.
Turkey is to privatise its electricity generation plants, following the success of its similar action to privatise its electricity distribution grid. The only exceptions to this are some strategic dams such as Atatürk, Karakaya and Keban which are built on international waters.
UK MPs have criticised the government’s current power market reforms and cast doubt on their ability to deliver enough investment for improved energy infrastructure, in a climate change committee report.
Electric vehicles may help the UK cope with erratic renewable power generation in the future by recharging when demand is low and supplying the network when demand is high, the National Grid has said.
The UK coalition government’s renewable energy review has declared nuclear to be the most cost-effective form of low-carbon power generation in the short-term, while renewables are described as key to decarbonising the UK economy in the medium to long-term.
Whisky is to be used to generate electricity in a new bioenergy venture involving some of Scotland’s best-known distilleries.
Russian gas giant Gazprom and Danish utility DONG Energy have signed a letter of intent (LOI) to cooperate in gas-fired power generation.
German industrial conglomerate Siemens AG is set to report a significant increase in net profit on a one-time gain from the sale of a minority stake in nuclear power venture Areva NP, while its order book is set to benefit from the continuing rebound across its business lines.